Your point about an independent Certified Public Accounting firm auditing UNGS financials is valid. That tends to cost money. And, some companies in Pennyland don't allocate for that expenditure. Especially, that would be the case if the company obtained SEC exemption as is the case with UNGS. So, it seems we are in a quandary.
We need the accounting be done but, UNGS may be able to cut cost by invoking the fact that the company has an exemption from such independent auditing. And, maybe Wayne Anderson, his wife, or his daughter can do the audit. Then, Wayne Anderson can sign his name on the finished audit.
If securities fraud charges were brought against Wayne Anderson, the books would be audited by an independent audit firm if it meant the difference between Wayne Anderson serving prison time or going free.
It's called a confidence game. Why? Because you give me your confidence? No. Because I give you mine. -House of Games (1987)
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